Biomethane Market Forecast 2024 to 2032
Biomethane, also known as renewable natural gas (RNG) or green gas, is a type of biofuel produced from organic materials through a process called anaerobic digestion or biogas upgrading. It is a clean and sustainable energy source that can be used for various applications, including heat generation, electricity production, and as a transportation fuel. Biomethane is considered a renewable energy source because it is derived from organic waste materials, agricultural residues, and other biological sources.
The Biomethane Market was valued at USD 1,969.87Million in 2022 and is expected to register a CAGR of 3.26% by 2032.
The urgency to address climate change and reduce greenhouse gas emissions is a major driver. Biomethane production reduces methane emissions from organic waste and agricultural sources while displacing fossil fuels. This is a crucial factor expected to drive global market growth during the forecast period.